Bitcoin miner Vortex Brands puts MicroStrategy shares on balance sheet

Bitcoin mining firm Vortex Brands has begun buying MicroStrategy stock as part of a new strategy to leverage its Bitcoin-focused business model and increase its investment assets.

Crypto mining firm Vortex Brands has launched a new investment strategy by purchasing shares of MicroStrategy in a move that aims to capitalize on the company’s Bitcoin-centric approach.

With the new strategy, the Bitcoin mining firm initially purchased 10 shares of MSTR and plans to “add at least that many shares monthly and report holdings quarterly,” according to a press release dated August 28. Integrating MicroStrategy stock into the firm’s portfolio will allow it to “leverage MicroStrategy’s arbitrage strategy between the institutional public markets and the value of Bitcoin,” Vortex Brands CEO Todd Higley said.

“This move aligns with our bullish outlook on Bitcoin and our belief in hard assets, including certain digital assets, as the preferred investment and business activity in today’s post-low inflation environment.”

Vortex Brands CEO Todd Higley

This strategy comes amidst the Bitcoin investment landscape where MicroStrategy is focused as one of the largest public (BTC) holders.

Earlier in August, South Korea’s National Pension Service announced a significant investment in MicroStrategy, purchasing approximately $34 million worth of shares in Q2. NPS purchased 24,500 shares at an average price of $1,377.48 each, and following a recent 1-for-1 stock split, now owns 245,000 shares valued at approximately $32.3 million based on the last closing price of $131.9.

In addition to its investment in MicroStrategy, NPS also holds a large portion of Coinbase stock with 229,807 shares valued at over $45 million, reflecting the growing interest in the crypto space.

In its press release, Vortex Brands is set to announce a new division that aims to increase crypto savings as well as diversify revenue streams by developing its Bitcoin mining operations along with its latest investment strategy.